Abstract: Mining M&A is an important way for mining companies to improve their comprehensive strength and complete leapfrog development.From 2010 to 2019, the global mining environment has undergone significant changes, and now it has shown a new development trend.The discovery rate of high-quality mines is getting lower and lower, and the development of new projects is becoming more and more difficult.At present, if the mining companies want to expand the scale and consolidate their position, or achieve overtaking to enter the ranks of giants, mining M&A is the best way.Therefore, studying the characteristics of global mining M&A market has important reference significance for China's mining companies to formulate M&A strategy.This paper systematically analyzes the characteristics of global mining M&A market from the aspects of the M&A history of large international mining companies, the characteristics of the global mining M&A market, and the new trend of global mining M&A after the COVID-19 epidemic.The conclusions are as follows:mining companies have truly achieved leapfrog development and their transformations are almost all due to mining M&A; the global mining M&A market has experienced a development cycle from downturn to active in the past ten years; large mining companies generally choose to buy bottoms when the market is relatively inactive; global mining companies are showing a trend of differentiation affected by the COVID-19 epidemic.It is expected that the mining M&A market in the post-COVID-19 era will be led by large-scale mining giants with abundant liquidity.